Summary
Overview
Work History
Education
Skills
Accomplishments
Certification
Timeline
Personal Information
Generic

Steven Demarest

Elkton,MD

Summary

Managing Director | Financial Services Transformation & Strategic Operations Global-scale executive with over 30 years of experience driving multi-billion dollar transformations within the world's largest financial institutions. Expert at orchestrating massive-scale technology roadmaps ($45M+), managing expansive global workforces (11,000+), and overseeing multi-billion dollar P&L and credit loss portfolios ($5B+). A "Crisis-to-Growth" leader specializing in AI-driven operational excellence, regulatory remediation (CCAR), and enterprise-wide platform conversions that bridge the gap between legacy infrastructure and future-state digital agility.

Overview

32
32
years of professional experience
1
1
Certification

Work History

Managing Director, Strategic Operations Executive | Transformation

FINANCIAL SERVICES ORGANIZATION (e.g., Bank of America)
05.2025 - 02.2026
  • Delivered $100M in annual credit loss savings by implementing a real-time risk strategy, optimizing the organization's defensive posture through immediate-response modeling.
  • Architected a $70M strategic and technical investment roadmap comprising 4:1 ROI initiatives, bridging technical innovation with high-yield financial returns.
  • Optimized organizational efficiency to save 250 FTE annually, establishing new financial expense management standards while directly leading a 600-member high performing team and 8,000-person cross-functional workforce.
  • Directly manage a $1B annual operating expense plan, leveraging AI-driven data solutions and predictive analytics to achieve double-digit improvements in operational agility.

Managing Director, Collections Operations & Enterprise Strategy

07.2023 - 04.2025
  • Directly led a 3,000+ member organization (supporting a 11,000-person enterprise workforce) to modernize call center operations and enable digital-first client engagement.
  • Orchestrated a $1.5B annual expense budget, deploying a $42M transformation roadmap that automated decision-making and introduced digital channel capabilities.
  • Mitigated risk for a $4.5B net credit loss portfolio, ensuring financial stability through complex market cycles via advanced risk-avoidance modeling.

Managing Director – Servicing, Collections & Recovery Strategy

11.2021 - 06.2023
  • Mobilized a 550-person "Center of Excellence" to drive end-to-end strategy and resource management, informing a $1.5B annual expense plan.
  • Managed a $3B credit loss portfolio, maintaining rigorous forecasting and designing innovative strategies that proactively mitigated financial risk.

SVP – Head of Collections & Recovery Performance & Strategy

01.2019 - 10.2021
  • Architected industry-leading infrastructure for 5,000 employees, utilizing a $45M technology investment to optimize a $5B credit loss workstream.
  • Steered a $1.1B annual operating expense plan, integrating advanced fraud mitigation with recovery operations to enhance capital preservation.
  • Led a $36M AI-driven roadmap, converting legacy systems into tech-enabled, automated workflows.

SVP – Collections and Recovery Strategy Executive

01.2016 - 12.2018
  • Marshalled a 450-member team to execute complex strategy deployments, generating $40M in annual business value through deep-dive analytics and infrastructure optimization.

SVP – Consumer Bank CCAR Executive Liaison

04.2015 - 12.2015
  • Remediated 10 MRAs and 10 MRIAs via C-Suite strategic analysis; redesigned credit loss modeling to enable critical CCAR capital plan resubmission.

Executive – Enterprise Card Platform Transformation

08.2012 - 03.2015
  • Led the largest credit card conversion in industry history (90M accounts / $90B loans), managing a $250M budget and a massive 2,000-person stakeholder group.

Unsecured Credit Strategy Executive

FINANCIAL SERVICES ORGANIZATION
01.2010 - 12.2012
  • Led 200 professionals in managing $6B+ credit loss forecasts and a $400M 'New BAC' efficiency initiative.

Collections Strategy Leadership

FINANCIAL SERVICES ORGANIZATION
01.2001 - 12.2010
  • Delivered $624M+ in net credit loss savings during the 2008 recession and directed the MBNA/BAC merger integration.

Early Career Highlights

FINANCIAL SERVICES ORGANIZATION
01.1994 - 12.2000
  • Advanced through SVP roles in Credit, Fraud, Finance, and Marketing, establishing a 360-degree foundation in consumer banking P&L.

Education

Bachelor of Science - Marketing

Saint Thomas Aquinas College
Nyack, NY

Operations Development Program -

University of Michigan, Ross School of Business
Ann Arbor, MI

Skills

  • Collections
  • Credit Underwriting
  • Risk Management
  • Innovative
  • Data Analytics
  • Strategic Planning
  • Strategy Development
  • Business and Tech Transformation
  • Data Driven Decision Making
  • Operations and Staff Management
  • Resource, Loss and Resource Forecasting
  • Fraud Management

Accomplishments

  • Enterprise Transformation: Orchestrated an enterprise-wide transformation by integrating Automated Decision-Making and Predictive Analytics while optimizing a workforce of 11,000+, pivoting the organization toward a data-centric operating model.
  • Digital Modernization: Accelerated use of channel driving a 50%+ increase in client adoption significantly reducing high-cost manual interaction and expanded Client engagement
  • P&L & Portfolio Management: Exercised full oversight for a $1.5B annual OpEx budget while safeguarding a $5B+ Credit Loss portfolio through advanced mitigation strategies, operational excellence, and market-cycle modeling.
  • M&A & Consolidation: Spearheaded the MBNA merger integration for Collections & Recovery; defined the end-state target operating model (TOM) and realized $100M+ in post-merger synergies and cost efficiencies.
  • Efficiency Initiatives: Architected and executed $400M+ in "New BAC" strategic efficiency initiatives, fundamentally restructuring operational workflows to drive massive-scale cost reduction and P&L optimization.
  • Engineered a high-performance data analytics ecosystem that achieved $400M+ in NCL mitigation; leveraged predictive modeling and automated decision engines to overhaul legacy underwriting & collections processes.
  • Regulatory Leadership: Championed CCAR & Regulatory Governance frameworks, serving as the executive liaison to remediate critical MRAs/MRIAs and ensuring enterprise-wide alignment with capital planning mandates.
  • Pinnacle Club Summit - Key Contributor

Certification

Six Sigma Greenbelt | Lending Authority

Timeline

Managing Director, Strategic Operations Executive | Transformation

FINANCIAL SERVICES ORGANIZATION (e.g., Bank of America)
05.2025 - 02.2026

Managing Director, Collections Operations & Enterprise Strategy

07.2023 - 04.2025

Managing Director – Servicing, Collections & Recovery Strategy

11.2021 - 06.2023

SVP – Head of Collections & Recovery Performance & Strategy

01.2019 - 10.2021

SVP – Collections and Recovery Strategy Executive

01.2016 - 12.2018

SVP – Consumer Bank CCAR Executive Liaison

04.2015 - 12.2015

Executive – Enterprise Card Platform Transformation

08.2012 - 03.2015

Unsecured Credit Strategy Executive

FINANCIAL SERVICES ORGANIZATION
01.2010 - 12.2012

Collections Strategy Leadership

FINANCIAL SERVICES ORGANIZATION
01.2001 - 12.2010

Early Career Highlights

FINANCIAL SERVICES ORGANIZATION
01.1994 - 12.2000

Bachelor of Science - Marketing

Saint Thomas Aquinas College

Operations Development Program -

University of Michigan, Ross School of Business

Personal Information

Title: Managing Director
Steven Demarest